Pro traders look for this classic pattern to spot Bitcoin price reversals

imageCryptocurrency23 minutes ago (Aug 01, 2021 06:20PM ET)

Pro traders look for this classic pattern to spot Bitcoin price reversals

Every trader aims to buy low and sell high, but only a few are able to muster the courage to go against the herd and purchase when the downtrend reverses direction.

When prices are falling, the sentiment is negative and fear is at extreme levels, but it’s at times like these that the inverse head and shoulders (IHS) pattern can appear.

Head-and-shoulders bottom pattern. Source: TradingView
BTC/USDT daily chart. Source: TradingView
BTC/USDT daily chart. Source: TradingView
LINK/USDT daily chart. Source: TradingView

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Pro traders look for this classic pattern to spot Bitcoin price reversals

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